The Monero blockchain is a distributed ledger that records all transactions in a permanent way. It's built on top of the Cryptonote protocol, which is a cryptocurrency protocol that isn't immutable. The Monero blockchain can be accessed with the command line tool monero-wallet-cli. Monero uses the proof-of-work (PoW) mining algorithm to hash transactions into blocks, which are then added to the Monero blockchain. PoW uses computer resources (also known as hashrate) to solve mathematical problems, which makes it costly to attack a network.

Monero

Solana is a blockchain technology that is being developed by scientists and technologists at the National Renewable Energy Laboratory. The Solana blockchain is designed to facilitate transactions of high volumes of data in a fast and secure way. This could have implications in many industries, including finance, information technology, health care and the internet of things (IOT).

	Monero	Solana
Created by	Riccardo Spagni	Anatoly Yakovenko
Native token	XMR	SOL
Consensus algorithm	PoW	PoH
Hashing algorithm	randomx	SHA-256
Supports EVM	No	No
TPS	1700	65000
Block time (secs)	120	0.4
Layer	1	1
Supports smart contracts	No	Yes
Average transaction fee	$0.001	$0.00025
Staking rewards (APR)	0%	7%

Monero vs. Solana

Overview

Table of Contents

Comparison

Is Monero faster than Solana?

Is Monero cheaper than Solana?